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LAS.VEGAS.MARKET.INTELLIGENCE  |
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ECONOMY: Southern Nevada economic indicators stay flat in August
Las Vegas Review-Journal, Posted: 09/02/10
The Southern Nevada Index of Leading Economic Indicators remained essentially flat in August as none of the data series showed much movement up or down.
The index registered 125.34 in August, compared with 125.47 in the previous month and 125.91 in August 2009, the Center for Business and Economic Research reported Wednesday.
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LAS.VEGAS.REAL.ESTATE.NEWS  |
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LAS.VEGAS.FINANCE.NEWS  |
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These are the Most Underwater States
Forbes, Posted: 09/02/10
Nowhere is the aftermath of the housing crisis more clearly illustrated than in Nevada, where nearly three quarters of homes with mortgages are worth less than what borrowers owe on them.
In that state, a whopping 68% of mortgages are in negative equity, also known as “underwater”.
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Wynn Revamps Las Vegas Room
Zacks, Posted: 09/02/10
Wynn Resorts Limited (WYNN - Analyst Report), which along with its subsidiaries is a leading developer, owner and operator of destination casino resorts with properties in Las Vegas and Macau, announced recently that it has completed the renovation of the first resort room at Wynn Las Vegas.
The renovation was a part of the company’s plan, under which it expects to remodel almost 2700 rooms at Wynn Las Vegas.
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No Break In Home Market's Woes Despite Tax Credit
NPR, Posted: 09/01/10
There may not be much the federal government can do to halt the housing market's slide. The measures that have been tried so far — in particular, a generous tax credit for home buyers — have not succeeded in turning around sales that are now the weakest seen in 15 years.
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Jobless claims decline, but not enough
CNNMoney, Posted: 09/02/10
The number of first-time filers for unemployment insurance fell for a second straight week last week, but the level suggests that the labor market remains sluggish.
There were 472,000 initial jobless claims filed in the week ended Aug. 28, down 6,000 from an upwardly revised 478,000 the previous week, according to the Labor Department's weekly report.
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U.S. banks post stronger profits
Los Angeles Times, Posted: 09/02/10
The nation's banks last quarter recorded their strongest overall profits since 2007 as projected loan losses shrank for the first time in more than four years, the Federal Deposit Insurance Corp. said in a report Tuesday.
But banks in the West collectively still lost money – and won’t be back in the black until next year, according a separate report from the Federal Reserve Bank of San Francisco.
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Home Prices, Confidence See Modest Gains
Globe Street, Posted: 09/01/10
Consumer confidence rose moderately last month, the Conference Board said Tuesday. However, the board noted that consumers’ outlook about current conditions remains pessimistic.
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